Clarkson (LON:CKN) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Clarkson PLC (LON:CKN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 3,885.70 ($47.91) and traded as high as GBX 4,330 ($53.38). Clarkson shares last traded at GBX 4,265 ($52.58), with a volume of 89,188 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 4,500 ($55.48) price target on shares of Clarkson in a research note on Tuesday, January 14th.

Clarkson Stock Performance

The firm has a market capitalization of £1.31 billion, a price-to-earnings ratio of 1,591.42 and a beta of 1.12. The company has a current ratio of 1.79, a quick ratio of 1.69 and a debt-to-equity ratio of 8.39. The stock’s 50-day moving average is GBX 3,948.68 and its 200-day moving average is GBX 3,885.70.

Clarkson Company Profile

Clarkson PLC provides integrated shipping services worldwide. The company's Broking segment offers services to shipowners and charterers in the transportation of various cargoes by sea; and to buyers and sellers/yards related to sale and purchase transactions, as well as futures broking operation.